Today's economic mess is causing uncertainty, unemployment and tough times for many Americans. While most people are worried about getting by, some are taking advantage of the scenario and the potential for a great investment. The real estate market has changed dramatically and with it opportunities for small investors.
The big banks who now own many of the foreclosed properties aren't selling them off in large lots as many had anticipated. Instead, as the Wall Street Journal reported, they're holding onto the properties and trying to make more off individual sales. That means more foreclosed properties are available to individual buyers. If buyers know what to look for, they can turn the country's misfortune into their own dream. One search along the Jersey Shore, for instance, shows thirty different listings for beach homes under foreclosure.
If you are a potential investor or just looking for a new vacation spot for you and your family, this is a great time to buy. There are multiple homes available at just a fraction of what they were previously worth with some in great locations. Of course some of these properties might need work but this means an even further reduction in price. A family vacation home has gone from pipe-dream to reality for those with the available means.
With a down payment of just 20% of the price of the home it really makes it an option open to anyone interested in purchasing property. Purchasing a vacation home also means doing away with expensive family vacations and putting that money into renovating the property or just additional savings. Renovating your home yourself can mean even more savings and perhaps help you learn some useful skills.
Many people are raking in cash by buying homes, fixing them up and selling them. Others are buying homes to use as vacation get-aways. It's obvious that the real estate market crash has created incredible opportunities for small investors.
The big banks who now own many of the foreclosed properties aren't selling them off in large lots as many had anticipated. Instead, as the Wall Street Journal reported, they're holding onto the properties and trying to make more off individual sales. That means more foreclosed properties are available to individual buyers. If buyers know what to look for, they can turn the country's misfortune into their own dream. One search along the Jersey Shore, for instance, shows thirty different listings for beach homes under foreclosure.
If you are a potential investor or just looking for a new vacation spot for you and your family, this is a great time to buy. There are multiple homes available at just a fraction of what they were previously worth with some in great locations. Of course some of these properties might need work but this means an even further reduction in price. A family vacation home has gone from pipe-dream to reality for those with the available means.
With a down payment of just 20% of the price of the home it really makes it an option open to anyone interested in purchasing property. Purchasing a vacation home also means doing away with expensive family vacations and putting that money into renovating the property or just additional savings. Renovating your home yourself can mean even more savings and perhaps help you learn some useful skills.
Many people are raking in cash by buying homes, fixing them up and selling them. Others are buying homes to use as vacation get-aways. It's obvious that the real estate market crash has created incredible opportunities for small investors.
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